Insurance companies offer a great number of insurance coverages, policy terms, and options. As a result, it can be difficult for an insurance agent or customer to determine appropriate insurance coverages, limits and deductibles for a particular insurance need. For example, in a typical personal lines automobile policy, an agent or customer must select from among different deductibles, different terms, and different policy add-ons (such as roadside assistance, or the like). Selecting the most appropriate combination of terms and coverages can be difficult. It would be desirable to provide a package or bundle of policy options which make it easier for an agent or customer to select the most desirable policy package.
Many customers have multiple policies. For example, many homeowners have both a homeowner policy as well as one or more automobile policies. Insurers typically underwrite and administer these different types of policies using different systems. Each of the policies typically has different deductible options. However, in many claim or loss situations, a customer suffers a loss that affects several different policies. It would be desirable to provide systems and methods that allow a single deductible to be applied to such a claim. It would further be desirable to provide systems and methods which allow insurers to update different policy systems to reflect the application of such a single deductible to a claim.